SaaS Weekly
The Weekend is upon us! Here are the top 3 news that happened in the world os SaaS this week.
1. Lightspeed POS shares hit new high as first-quarter revenues surge 38 per cent
MONTREAL – Shares of Lightspeed POS Inc. climbed to a new high Thursday as revenues surged, despite losing more money than expected in the first quarter of its fiscal year. On the Toronto Stock Exchange, Lightspeed shares hit a new high of $46.18 and closed at $45.89, up $3.99 or 9.5 per cent in Thursday trading. [Continue reading]
2. Bridgit Raises $1.5 Million From CIBC Innovation Banking
Toronto-based Bridgit, a project management platform for construction businesses, has received $1.5 million in debt growth capital financing from CIBC Innovation Banking. The funding follows the startup’s $6.2 million Series A (closed in March), and will be used to support Bridgit as it expands its business with Bridgit Bench, a resource planning tool, made available in May. [Continue reading]
As a startup founder, you will quickly find yourself in the endless cycle of chasing cash; you need cash to secure revenue, but you need MRR to secure funding. Unless you are building incredibly deep tech, securing customers must be your focal point. Above and beyond the stress of running your startup, you need to consider engaging in all activities that make you attractive to investors, which any startup founder will tell you is a full-time job in itself. MRR/CAC/Churn are fundraising fundamentals. [Continue reading]
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